Hawk

Why did VakıfBank International AG choose Hawk to strengthen its anti-money laundering operations? Hawk's modular anti-financial crime platform was chosen for its comprehensive functionality and robust SaaS delivery model for driving efficiencies in: - AML Transaction Monitoring - Transaction Screening - Customer Screening - Customer Risk Rating By leveraging Hawk’s holistic solution, VakıfBank is gaining improved visibility and decision-making capability through a unified interface, streamlining case management and enhancing cross-module data accessibility. Find out more about how we help banks worldwide to spot more financial crime more efficiently: https://lnkd.in/dP-mw56C

Most financial institutions see transaction monitoring as the priority for AI in AML - that was the conclusion of the PwC EMEA AML report, which surveyed 396 FIs in 40 countries. The survey showed: • 79% intend to use AI to improve transaction monitoring • 59% plan to use AI to improve their screening capabilities • 54% aim to leverage AI to enhance customer due diligence and improve customer risk assessments Want to better understand how AI can help your FI to increase risk coverage and improve efficiency? Hawk’s AI-powered solutions for Transaction Monitoring, Customer Screening, Payment Screening, and pKYC have won industry awards this year - find out more at https://lnkd.in/dTHCk9Ua

What are the essential AI use cases in anti-money laundering? We've outlined four key areas where AI can make a significant impact: Anomaly Detection, Pattern Detection, False Positive Reduction, and pKYC. AI is no longer an option in AML. It is essential for achieving the efficiency and effectiveness that is needed to fight financial crime and achieve regulatory compliance. Read the full article at: https://lnkd.in/dfu5iM9X #aml #fincrime #ai #artificialintelligence #banks #fraud #financialinstitutions

Hawk joined forces with LSEG (London Stock Exchange Group) today in Singapore to host a roundtable on FinCrime AI & Data. Thank you to everyone who joined Andanta Djafar and Robin Lee 李显龙 as they led the discussion on the role of AI in combating financial crime, as well as emerging trends, challenges, and threats for the upcoming year. Hawk is assisting banks and financial institutions worldwide in detecting more crime while reducing false positives. Learn more about how we do it on: https://hawk.ai/

We are excited to share that Hawk has been listed as one of the fastest growing European companies by Sifted. The Sifted 250 Leaderboard showcases the 250 fastest-growing startups across Europe in 2024 based on revenue growth over the last three financial years. Want to join us? We're hiring! We currently have vacancies in Development, Solutions Consulting, Product Marketing, Content Management, and Sales. Find out more: https://lnkd.in/d48qKyZc #antimoneylaundering #aml #fraud #fincrime #artificialintelligence #ai

AML teams worldwide work tirelessly to keep financial crime at bay. How does Hawk help them solve the challenges they are facing? The top 3 challenges in AML operations currently are: - Integrating multiple systems and data sources - Having too many false positives - Having ineffective/inefficient investigations Hawk’s AML solutions powered by AI can help with tackling these challenges, for example through: > Entity Risk Detection: Consolidate data from multiple sources and match them with real-world entities > False Positive Reduction: Reduce the noise significantly, with solutions that leverage smart “AI-rules” > A unified case manager: Bring your anti-financial crime processes together in one interface for faster and more thorough investigations Want to learn more about how Hawk helps AML teams worldwide improve their results? Request a Demo: https://lnkd.in/dHgtDUDP

AI can significantly reduce your false positives in AML. How? We explain the difference between a rules-only approach and AI. The Rules-Based Approach: > Consider three rules, each having a 10% false positive rate, deployed to detect suspicious behavior > When we apply these rules, the total false positive rate is 30% > The rate is high because all the rules act together, and they don't choose any specific type of behavior to look at. The same rule applies to every single customer. The AI Approach: > AI generates a large set of fine-grain rules that look for specific combinations of behavior > AML investigators can tailor AI much more precisely to what a particular customer does > For example, with AI we can apply five rules, each with two conditions having a false positive rate of 10% > The rules only fire if both conditions are met, resulting in a false positive rate of 1% per rule > When we combine the five rules, we get an overall false positive rate of 5% > In this scenario, we’ve applied more rules and still reduced the false positive rate significantly Read the full article that summarizes the examples and how AI reduces false positives: https://lnkd.in/dfTRDDS9

91% of FIs that have adopted AI for risk and compliance say it has had a significant or noticeable impact on their organizations. At Hawk, we’re providing our customers with significant improvements in their AML and fraud operations. How? Two examples of what our AI-powered solutions consistently achieve: • 70% fewer false positives • 3–5 times more risks detected Contact us to find out more about the results we're delivering in Transaction Monitoring, Payment Screening, Customer Screening & Risk Rating, and Transaction Fraud Prevention. Visit https://lnkd.in/dDXYCxQi.

Can you improve your AFC operations through AI without discarding your current tech stack? Yes. With an AI overlay approach. By implementing AI as an overlay, financial institutions get the best of two worlds: > Better results in detecting and preventing financial crime, through: - Prioritized alerts - Reduced false positives - Higher crime detection rates > AND a fast and resource-efficient implementation Want to know more? Together with the amazing team at Deloitte, we released a useful whitepaper about AI overlays, what they are, and how they work. Find it here: https://lnkd.in/d6qtQJSW

New data reveals what UK banks and financial institutions think about using AI in AML and anti-fraud... The Bank of England and the Financial Conduct Authority surveyed 118 UK financial firms to understand where they see AI benefiting their operations now and in the future. AML and fraud prevention ranked second for benefits that AI is delivering today, with expectations of further benefit growth over the next three years. Hawk is helping financial institutions globally to realize the benefits of AI for AML and Fraud - get in touch for a demo and we'll show you how: https://hawk.ai/ Find the full survey in the comments below.